Registration No. 33-84894
Rule 424(b)(3)
SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED JUNE 22, 1995
MLCC Mortgage Investors, Inc., Seller
Senior/Subordinate Mortgage Pass-Through Certificates,
Series 1995A, Class A-1, A-2, A-3, A-4, A-5 and A-6 (Senior)
MERRILL LYNCH CREDIT CORPORATION
Master Servicer
-----------------------------------------------------------------
On June 29, 1995, the Senior/Subordinate Pass-Through Certificates,
Series 1995A, Class A-1, A-2, A-3, A-4, A-5 and A-6 (the "Offered
Certificates") were issued in an approximate original aggregate principal
amount of $180,819,000. The Offered Certificates represented beneficial
interests in the Trust Fund created pursuant to a Pooling and Servicing
Agreement dated as of June 1, 1995 by and among MLCC Mortgage Investors, Inc.,
as seller, Merrill Lynch Credit Corporation, as master servicer, and Bankers
Trust Company of California, N.A., as trustee. This Supplement to the
above-referenced Prospectus Supplement (the "Prospectus Supplement")
supplements and updates certain of the information set forth in the Prospectus
Supplement. Capitalized terms not defined herein have the meanings ascribed to
them in the Prospectus Supplement.
The Master Servicer has informed the Seller that the Master Servicer
has entered into a contract with Cendant Mortgage Corporation, as subservicer,
to perform its servicing duties under the Pooling and Servicing Agreement. The
contract with Cendant Mortgage Corporation does not include the Master
Servicer's servicing duties with respect to the Additional Collateral under
the Pooling and Servicing Agreement. Notwithstanding such subservicing
arrangements entered into by the Master Servicer with Cendant Mortgage
Corporation or any other subservicer, the Master Servicer will not be released
from its obligations under the Pooling and Servicing Agreement and will remain
liable for the servicing of the Mortgage Loans in accordance with the
provisions of the Pooling and Servicing Agreement without diminution of such
liability by virtue of such subservicing arrangements.
The first two tables set forth after the first paragraph under the
heading "MLCC and its Mortgage Program--Delinquency and Loan Loss Experience"
on page S-38 of the Prospectus Supplement are hereby updated, in their
entirety, as follows:
<TABLE>
<CAPTION>
PRIMEFIRST(R)LOAN DELINQUENCY EXPERIENCE
(Dollars in Thousands)
December 31, 1999 December 31, 1998 December 31, 1997
------------------------ ------------------------- --------------------------
Number of Number of Number of
PrimeFirst Principal PrimeFirst Principal PrimeFirst Principal
Loans Amount Loans Amount Loans Amount
------------ --------- ----------- --------- ----------- ----------
<S> <C> <C> <C> <C> <C> <C>
PrimeFirst Loans
Outstanding................... 11,223 $4,526,896 11,263 $4,408,862 14,159 $5,302,950
Delinquency Period
30-59 Days.................... 199 $ 76,666 184 $ 77,751 183 $ 66,254
60-89 Days.................... 38 15,834 26 9,815 26 18,544
90 Days or More*.............. 15 8,300 34 23,664 24 18,072
------ ------ ------ --------- ------ - ---------
Total Delinquency.......... 252 $100,800 244 $111,230 233 $102,870
====== ======== ====== ======== ==== === ========
Delinquencies as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding................... 2.25% 2.23% 2.17% 2.52% 1.65% 1.94%
Loans in Foreclosure............ 36 $ 33,135 47 $ 43,681 39 $ 47,396
Loans in Foreclosure as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding................... 0.32% 0.73% 0.42% 0.99% 0.28% 0.89%
</TABLE>
- ---------------------------------
* Does not include loans subject to bankruptcy proceedings.
<TABLE>
<CAPTION>
PRIMEFIRST(R)LOAN LOSS EXPERIENCE
(Dollars in Thousands)
Year Ended Year Ended Year Ended
December 31, 1999 December 31, 1998 December 31, 1997
----------------- ----------------- -----------------
<S> <C> <C> <C>
Average Principal Balance of PrimeFirst Loan
Portfolio....................................... $4,467,879 $4,855,906 $4,817,041
Average Number of PrimeFirst Loans Outstanding
During the Period............................... 11,243 12,711 12,607
---------- ---------- ---------
Gross Charge-offs................................. $ 5,578 $ 4,030 $ 5,363
Recoveries........................................ $ 16 $ 2 $ 99
---------- ---------- ---------
Net Charge-offs................................... $ 5,562 $ 4,028 $ 5,264
========== ========== =========
Net Charge-offs as a Percent of Average
Principal Balance Outstanding................... 0.12% 0.08% 0.11%
</TABLE>
The first two tables set forth after the second paragraph under the
heading "MLCC and its Mortgage Program-Delinquency and Loan Loss Experience"
on page S-39 of the Prospectus Supplement are hereby updated, in their
entirety as follows:
<TABLE>
<CAPTION>
Revolving Credit Line Loan Delinquency Experience
(Dollars in Thousands)
As of December 31,
----------------------------------------------------------------------------------
----------------------------------------------------------------------------------
1994 1995 1996 1997 1998 1999
------------ ----------- ------------ ----------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit
line loans serviced........ 15,598 25,056 28,368 31,395 30,571 31,517
Aggregate loan balance of 1,293,483 1,387,217
revolving credit line
loans serviced............. $1,079,693 $ $1,353,800 $ $1,191,938 $1,202,594
Loan balance of revolving
credit line loans 2 months
delinquent................. $ 5,358 $ 8,447 $ 8,292 $ 5,450 $ 6,634 $ 6,427
Loan balance of revolving
credit line loans 3 months
or more delinquent......... $ 22,989 $ 33,763 $ 39,508 $ 44,104 $ 31,348 $ 22,863
Total of 2 months or more
delinquent as a percentage
of aggregate loan balance
of revolving credit
line loans................. 2.63% 3.26% 3.53% 3.57% 3.19% 2.44%
</TABLE>
<TABLE>
<CAPTION>
Revolving Credit Line Loan Loss Experience
(Dollars in Thousands)
As of December 31,
----------------------------------------------------------------------------------
----------------------------------------------------------------------------------
1994 1995 1996 1997 1998 1999
------------ ----------- ------------ ----------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C>
Number of revolving credit
line loans serviced........ 15,598 25,056 28,368 31,395 30,571 31,517
Aggregate loan balance of 1,293,483 1,387,217
revolving credit line
loans serviced............. $1,079,693 $ $1,353,800 $ $ 1,191,938 $ 1,202,594
For the Period:
Gross Charge-offs
dollars.................. $ 1,118 $ 3,700 $ 1,860 $ 4,269 $ 2,756 $ 4,445
Percentage(1)............ 0.10% 0.29% 0.14% 0.31% 0.23% 0.37%
</TABLE>
- -------------
(1) As a percentage of aggregate balance of revolving credit line
loans serviced.
Additionally, the information contained in (a) the tables entitled
"Range of Cut-Off Date Principal Balances for Loan Group 1", "Prime Index
Mortgage Loan Margins for Loan Group 1" and "LIBOR Mortgage Loan Margins for
Loan Group 1" under the heading "The Mortgage Pool--Loan Group 1" on pages
S-26 and S-28 of the Prospectus Supplement, (b) the tables entitled "Range of
Cut-off Date Principal Balances for Loan Group 2" and "Margins for Loan Group
2" under the heading "The Mortgage Pool--Loan Group 2" on pages S-29 and S-31
of the Prospectus Supplement and (c) the tables entitled "Range of Cut-off
Date Principal Balances for Loan Group 3" and "Margins for Loan Group 3" under
the heading "The Mortgage Pool--Loan Group 3" on pages S-32 and S-33 of the
Prospectus Supplement are hereby updated to indicate, as of December 31, 1999,
the Mortgage Loan Balances and margins of the Mortgage Loans:
<TABLE>
<CAPTION>
Range of Principal Balances for Loan Group 1 as of December 31, 1999
Number of Mortgage % of Loan Group 1 by
Range of Principal Balances Loans Principal Balance Principal Balance
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
$0-49,999.99 7 $ 265,929.39 0.50%
$55,000-59,999.99 2 115,402.92 0.22%
$75,000-99,999.99 7 622,709.68 1.18%
$100,000-149,999.99 30 3,597,839.45 6.82%
$150,000-199,999.99 16 2,920,944.91 5.54%
$200,000-249,999.99 21 4,534,224.33 8.60%
$250,000-299,999.99 6 1,691,613.43 3.21%
$300,000-349,999.99 9 2,786,915.06 5.29%
$350,000-399,999.99 8 2,960,517.50 5.62%
$400,000-449,999.99 6 2,521,825.59 4.78%
$450,000-499,999.99 4 1,893,214.63 3.59%
$500,000-549,999.99 3 1,593,091.68 3.02%
$550,000-599,999.99 5 2,880,718.96 5.46%
$600,000-649,999.99 2 1,232,000.00 2.34%
$650,000-699,999.99 1 679,907.29 1.29%
$700,000-749,999.99 1 725,000.00 1.38%
$750,000-799,999.99 3 2,283,184.97 4.33%
$800,000-849,999.99 2 1,600,000.00 3.03%
$850,000-899,999.99 2 1,753,869.13 3.33%
$950,000-999,999.99 1 999,750.00 1.90%
$1,000,000-1,099,999.99 2 2,095,581.34 3.97%
$1,100,000-1,199,999.99 1 1,199,175.14 2.27%
$1,200,000-1,299,999.99 1 1,249,491.86 2.37%
$2,200,000-2,299,999.99 2 4,522,234.71 8.58%
$2,900,000-2,999,999.99 2 5,999,356.79 11.38%
-------------------------------------------------------------------------------
TOTALS 144 $ 52,724,498.76 100.00%
===============================================================================
</TABLE>
<TABLE>
<CAPTION>
Prime Index Mortgage Loan Margins for Loan Group 1 as of December 31, 1999
Number of Mortgage % of Loan Group 1 by
Margin Loans Principal Balance Principal Balance
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
-0.5 1 $ 197,000.00 1.49%
- -0.125 2 1,261,139.06 9.53%
0 4 1,393,688.19 10.54%
0.125 3 717,886.98 5.43%
0.25 7 1,593,298.70 12.04%
0.5 18 2,317,052.39 17.52%
0.625 1 145,499.99 1.10%
0.75 8 911,428.48 6.89%
1.625 1 725,000.00 5.48%
1.875 1 220,000.00 1.66%
2 3 1,123,094.72 8.49%
2.25 4 1,479,145.57 11.18%
2.5 3 382,357.67 2.89%
2.625 1 529,990.00 4.01%
2.75 1 120,339.21 0.91%
3 1 111,297.55 0.84%
--------------------------------------------------------------------------------
TOTALS 59 $13,228,218.51 100.00%
================================================================================
</TABLE>
<TABLE>
<CAPTION>
LIBOR Mortgage Loan Margins for Loan Group 1 as of December 31, 1999
Number of Mortgage % of Loan Group 1 by
Margin Loans Principal Balance Principal Balance
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1.25 2 $ 670,611.68 1.70%
1.375 1 767,500.00 1.94%
1.5 4 4,712,221.86 11.93%
1.625 3 2,099,718.74 5.32%
1.75 11 8,255,139.78 20.90%
1.875 3 2,095,101.68 5.30%
2 17 6,985,864.16 17.69%
2.125 4 3,516,799.50 8.90%
2.25 19 7,533,613.22 19.07%
2.5 13 1,677,872.07 4.25%
2.625 2 313,600.25 0.79%
2.75 5 718,737.31 1.82%
2.875 1 149,500.00 0.38%
--------------------------------------------------------------------------------
TOTALS 85 $ 39,496,280.25 100.00%
================================================================================
</TABLE>
<TABLE>
<CAPTION>
Range of Principal Balances for Loan Group 2 as of December 31, 1999
Number of Mortgage % of Loan Group 2 by
Range of Principal Balances Loans Principal Balance Principal Balance
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
$50,000-54,999.99 1 $ 50,674.44 0.42%
$75,000-99,999.99 1 93,536.44 0.77%
$100,000-149,999.99 5 649,240.68 5.33%
$150,000-199,999.99 1 192,500.00 1.58%
$200,000-249,999.99 3 702,013.20 5.76%
$250,000-299,999.99 5 1,444,488.08 11.85%
$400,000-449,999.99 1 427,742.00 3.51%
$450,000-499,999.99 1 499,955.21 4.10%
$700,000-749,999.99 1 700,000.00 5.74%
$1,000,000-1,099,999.99 1 1,000,000.00 8.20%
$1,200,000-1,299,999.99 1 1,249,653.67 10.25%
$1,900,000-1,999,999.99 1 1,979,087.57 16.24%
$3,000,000 or Higher 1 3,200,000.00 26.25%
------------------------------------------------------------------------------
TOTALS 23 $ 12,188,891.29 100.00%
==============================================================================
</TABLE>
<TABLE>
<CAPTION>
Margins in Loan Group 2 as of December 31, 1999
Number of Mortgage % of Loan Group 2 by
Margin Loans Principal Balance Principal Balance
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1 1 $ 1,000,000.00 8.20%
1.375 1 274,763.87 2.25%
1.625 1 3,200,000.00 26.25%
1.875 4 2,821,356.17 23.15%
2 3 1,241,656.78 10.19%
2.125 1 499,955.21 4.10%
2.375 7 1,024,339.15 8.40%
2.5 3 1,728,070.11 14.18%
2.625 1 123,750.00 1.02%
3 1 275,000.00 2.26%
-------------------------------------------------------------------------------
TOTALS 23 $ 12,188,891.29 100.00%
===============================================================================
</TABLE>
<TABLE>
<CAPTION>
Range of Principal Balances for Loan Group 3 as of December 31, 1999
Number of Mortgage % of Loan Group 3 by
Range of Principal Balances Loans Principal Balance Principal Balance
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
$200,000-249,999.99 1 $ 239,361.61 28.10%
$600,000-649,999.99 1 612,500.00 71.90%
----------------------------------------------------------------------------------
TOTALS 2 $ 851,861.61 100.00%
==================================================================================
</TABLE>
<TABLE>
<CAPTION>
Margins for Loan Group 3 as of December 31, 1999
Number of Mortgage % of Loan Group 3 by
Margin Loans Principal Balance Principal Balance
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.250 1 $ 612,500.00 71.90%
0.375 1 239,361.61 28.10%
-----------------------------------------------------------------------------------
TOTALS 2 $ 851,861.61 100.00%
===================================================================================
</TABLE>
--------------------
The date of this Supplement is March 31, 2000.
